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Spectacular save from Manchester BS

Spectacular save from Manchester BS

Category: Savings

Updated: 25/03/2009
First Published: 25/03/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Manchester BS has launched two bonds that go straight into the upper echelons of their respective fields.

Amongst the range of new products it has unveiled is the Premier Guarantee Issue 3, an instant access account that requires a minimum investment of £1K, paying a top rate of 2.66% yearly. Four withdrawals without notice or penalties are permitted each year.

Further withdrawals trigger a change to the lower Premier Instant rate and further additions are allowed. The product has a maximum investment level of £50K and a minimum operating balance of £1K.

For consumers who want the security of instant access but can limit withdrawals to four or less a year, this could well be the product of choice.

Those who are able to tie up their funds for three years may find value in the society's new fixed rate bond, which pays a leading rate of 4.03%. It requires a minimum investment of £1K and one penalty free withdrawal is permitted on funds up to 25% of the balance.

Any withdrawals thereafter are allowed on 90 days' notice and 90 days' loss of interest (60 days' loss from 1.5.11 to maturity). Like its Premier Instant stable mate, the product permits additions and has a minimum operating balance of £1K. Maximum investment is £100K.

Both products have been awarded four out of five Moneyfacts stars.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.